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Minister of Industry, Trade and Investment, Doris Uzoka-Anite has disclosed that palns are underway to commence the manufacturing of vehicles in Nigeria.
She spoke during the launching of the Nigeria Automotive Industry Development Plan.
She said, “Nigeria has the capacity to produce its own vehicles. We have the raw materials; we have the skills; we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, heavy-duty trucks.
“With this plan, we should see Nigeria fully producing its own vehicles within 10 years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian.”
On his part, the Director-General of the National Automotive Design and Development Council, Joseph Osanipin stated that the policy proposed to help actualise the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.
He said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”
